[0:04]I've been deeply contemplating retirement lately, not my own, mind you, as a spry 94-year-old with no inclination to step down.
[0:15]Rather, I've been reflecting on the broader concept of retirement, how individuals prepare for it, secure its funding, what they get right, and more often, what they fundamentally misunderstand.
[0:30]A troubling pattern has emerged from my observations, most people approach retirement with an entirely inverted strategy.
[0:38]They dedicate four decades to work, accumulate a modest sum, and then simply times hope times it will suffice.
[0:47]There's a distinct absence of a coherent plan, a strategic allocation of appropriate assets, their default setting is mere hope.
[0:56]However, hope is not a viable strategy, by the time you reach 65 and confront the stark reality of insufficient funds to cease working, the window for effective correction has likely closed.
[1:10]Time becomes your most precious yet depleted resource, the potent force of compounding years is lost, you find yourself quite simply stuck.
[1:24]That's why today I intend to outline the five indispensable assets you absolutely times must times acquire before entering retirement.
[1:33]These aren't merely suggestions, they are non-negotiable necessities, for a truly secure and comfortable retirement, these five assets are foundational to your portfolio.
[1:46]My discussion won't delve into exotic hedge funds or convoluted financial schemes, instead, we'll focus on straightforward, time-tested assets that have consistently delivered results for decades.
[2:01]These are assets designed to generate reliable income, safeguard against the corrosive effects of inflation, and ultimately empower you to retire with genuine confidence, rather than gnawing fear.
[2:14]So let us begin with the first and arguably most critical asset you need to cultivate before retirement, a meticulously diversified portfolio of dividend-paying stocks from companies distinguished by their long and consistent track records of increasing those dividends.
[2:35]This unequivocally forms the bedrock of retirement income, not bonds, not annuities, but dividend-paying stocks.
[2:44]Allow me to elaborate, upon retiring your primary need shifts to income.
[2:50]Your working days are behind you, necessitating that your investments actively generate cash flow, broadly two paths exist for procuring this income.
[3:02]You could systematically sell shares of your investments, gradually depleting your principal capital.
[3:09]Alternatively, you could collect dividends without ever liquidating a single share, which approach resonates more favorably, the latter, undeniably.
[3:20]When you're liquidating shares to finance retirement, you're inherently initiating a countdown, eventually your capital will diminish, and should you outlive your projections, you will face significant financial strain.
[3:35]Dividends, on the other hand, possess the potential for perpetual generation.
[3:40]You retain ownership of the underlying shares, and the companies regularly disperse payments, typically quarterly, crucially, by selecting the times right times companies, those committed to increasing their dividends year after year, your income stream expands consistently over time.
[4:01]Consider, for instance, corporate stalwarts like Coca-Cola, Johnson and Johnson, Procter and Gamble, or McDonald's.
[4:11]These venerable businesses have not only distributed dividends for decades, but have also consistently elevated those payouts annually for 20, 30, and in some cases, even 50 years or more.
[4:24]This is precisely the caliber of asset you should prioritize before retirement.
[4:30]We're not discussing speculative growth stocks or high-risk ventures.
[4:33]Rather, we seek solid, even boring, stable companies that reliably increase dividends and will faithfully pay you throughout your 20 or 30 years of retirement.
[4:46]Here's a practical illustration, imagine retiring with $1 million invested in such dividend-paying stocks, yielding an initial 3%.
[4:56]That translates to $30,000 annually in dividend income.
[5:02]For many, this might not be sufficient to live on initially.
[5:06]However, these are not static dividends, they are times growing times dividends.
[5:13]Assume an annual growth rate of 7%.
[5:17]Within five years, your annual collection would rise to approximately $42,000.
[5:23]After 10 years, it would be around $59,000, and a mere 20 years into retirement, you could be receiving roughly $116,000 annually.
[5:35]Your income is doubled, tripled, even quadrupled during your retirement period, while Social Security typically struggles to keep pace with inflation, your dividend income surges ahead.
[5:48]This illustrates the profound power of dividend growth, and here's the truly elegant aspect, you never had to sell a single share.
[5:56]Your original million dollars remains fully invested, continuing to grow, and can even be passed on to your heirs.
[6:04]Those dividends represent pure income, derived directly from the robust profits of exceptional businesses.
[6:12]I have personally sustained my entire adult life on dividends.
[6:17]While Berkshire Hathaway does not issue dividends, my other stock holdings do, and that income stream has grown reliably year after year after year.
[6:27]It is arguably the most dependable income source one can cultivate.
[6:32]So that concludes asset No. 1, a diversified portfolio of times quality times dividend-paying stocks.
[6:41]Not just any dividend stocks, but those of quality companies, firms with strong brands, sustainable competitive advantages, consistently growing earnings, and a proven history of increasing their dividends.
[6:54]Build this portfolio diligently before you retire, comprising 10, 15, or 20 different companies across diverse industries, and resolve to hold them indefinitely.
[7:08]This is your essential retirement income engine.
[7:11]Now, let's turn our attention to the second asset you absolutely need before retirement.
[7:17]This one differs significantly from the first, it is a low-cost S&P 500 index fund that you commit to never touching.
[7:26]Wait, you might be thinking, didn't you just advocate for dividend stocks, indeed I did.
[7:33]But you require both, and here's why, your dividend stocks function as your income engine, providing regular cash payouts each quarter, this is what you'll live on.
[7:45]The index fund, conversely, serves as your bulwark against inflation and your source of long-term capital growth.
[7:54]Even with the benefit of growing dividends, you might encounter periods of elevated inflation, unexpected substantial expenses, or perhaps you'll enjoy a longer retirement than initially anticipated.
[8:08]It becomes imperative to possess additional assets that are appreciating in value, assets you can access if absolutely necessary.
[8:18]An S&P 500 index fund offers broad, diversified exposure to America's 500 largest publicly traded companies.
[8:29]It intrinsically grows in tandem with the broader economy over extended durations, typically 20 to 30 years, and has consistently delivered robust returns.
[8:40]The beauty of it lies in its simplicity, you don't need to actively manage it, nor do you need to engage in stock picking.
[8:48]You simply own it and allow it to compound.
[8:51]It is your ultimate backup, your financial safety net, and a powerful long-term growth engine that continues to work tirelessly for you long after you've retired.
[9:03]My mental model for these two assets is this, the dividend portfolio acts as your checking account, the source from which you regularly draw income.
[9:13]The index fund, by contrast, is your savings account, an untouched reserve unless an absolute necessity arises.
[9:22]Let's envision a scenario where you retire with $700,000 in dividend stocks and $300,000 in an S&P 500 index fund.
[9:34]The dividend stocks deliver your ongoing income, the index fund, meanwhile, quietly compounds in the background.
[9:43]Over two decades, assuming historical returns, that initial $300,000 could realistically swell to approximately $2 million.
[9:54]All the while, your dividend stocks have been reliably paying you income, allowing you to live comfortably.
[10:01]Now, you also possess a substantial nest egg that has grown significantly.
[10:07]This demonstrates the immense power of integrating both strategies.
[10:13]Income derived from dividends, and substantial growth from index funds, together they forge a retirement portfolio that is remarkably resilient, almost bulletproof.
[10:27]So that is asset No. 2, an S&P 500 index fund that you hold indefinitely and only access in genuine emergencies.
[10:38]The third asset you times must times acquire before retirement, and this is profoundly important, is real estate that consistently generates rental income.
[10:50]Now, I'm specifically times not times referring to your primary residence.
[10:56]Your personal home, in most financial contexts, is an expense, not an investment.
[11:03]While it might appreciate in value, it fails to generate income.
[11:08]Instead, it incurs costs in the form of property taxes, insurance, and ongoing maintenance.
[11:15]I am advocating for rental property, whether residential or commercial real estate, that reliably produces monthly cash flow.
[11:25]This stands as one of the finest retirement assets you can possess.
[11:29]Why, because rental income exhibits remarkable stability.
[11:34]People will always require places to live or conduct business, and rents historically tend to escalate with inflation.
[11:43]Consequently, as your cost of living rises in retirement, your rental income tends to rise commensurately.
[11:51]Furthermore, real estate offers invaluable diversification, it typically does not correlate directly with stock market performance.
[12:01]When the stock market experiences turbulence, your rental properties generally continue to generate income, your tenants continue to pay rent.
[12:11]Such stability is absolutely invaluable during retirement.
[12:16]Let me offer a realistic illustration.
[12:19]Imagine 10 years before your planned retirement, you acquire a rental property for $300,000.
[12:28]You make a down payment of $60,000 and finance the remaining amount.
[12:33]This property generates $2,000 per month in rent.
[12:39]After accounting for mortgage payments, taxes, insurance, and maintenance, your net income might initially be around $300 per month, not particularly impressive, right?
[12:51]But consider this, over that decade, you are steadily building equity as the mortgage principal is paid down.
[13:00]The property itself is likely appreciating in value, and most significantly, you are approaching retirement with a property that is nearly, if not entirely, paid off.
[13:12]By the time you retire, that mortgage is a relic of the past.
[13:17]Now that same property could generate perhaps $1,500 per month in times net times income.
[13:26]That's $18,000 annually in stable, inflation-protected income.
[13:32]Acquire three such properties, and you've secured $54,000 per year solely from rental income.
[13:39]Integrate this with your dividends and social security, and suddenly, retirement assumes a decidedly comfortable complexion.
[13:48]I recognize that the prospect of becoming a landlord isn't universally appealing, it entails work and occasional headaches.
[13:57]However, the effort is genuinely worthwhile for the dependable income stream that real estate provides.
[14:04]Alternatively, you can invest in REITs, real estate investment trusts.
[14:11]These are companies that own and manage income-producing properties and are legally required to distribute a significant portion of their earnings as dividends.
[14:20]This structure grants you real estate exposure without the direct responsibilities and challenges of being a landlord.
[14:28]Regardless of the method, integrating real estate into your retirement portfolio is essential, it has proven its merit over centuries as both a preserver of wealth and a generator of income.
[14:41]Do not embark on retirement without it.
[14:44]That completes asset No. 3, income-producing real estate or REITs, stable cash flow that inherently rises with inflation.
[14:53]The fourth asset you require before retirement is Treasury Inflation-Protected Securities, commonly known as TIPS, or I-bonds for more short-term needs.
[15:04]I concede that bonds generally aren't considered exhilarating, and conventional bonds can perform poorly in inflationary climates.
[15:13]However, TIPS are distinctly different, they are meticulously engineered specifically to safeguard against inflation.
[15:22]Here's how they function, the principal value of a TIPS bond is directly adjusted for inflation.
[15:29]If inflation measures 3%, your bond's principal increases by 3%, and you then earn interest on that times adjusted times principal.
[15:40]This mechanism guarantees that you will not suffer a loss of purchasing power.
[15:45]In fact, you stand to gain slightly as you also earn a fixed interest rate on top of the inflation adjustment.
[15:53]Why is this essential for retirement? Because inflation stands as the preeminent destroyer of financial security for fixed-income retirees.
[16:04]If you retire with an income of $50,000 per year, and inflation averages 4% annually for a decade, you will have effectively lost one third of your purchasing power.
[16:17]Your $50,000 will only be able to acquire what $33,000 bought when you first retired.
[16:24]This erosion is devastating, you are in essence becoming poorer each year, even though your nominal income remains unchanged.
[16:33]TIPS provide a crucial defense against this, they ensure that at least a portion of your portfolio steadfastly maintains its purchasing power, irrespective of inflationary trends.
[16:45]This provides an invaluable layer of peace of mind throughout your retirement years.
[16:51]I would recommend allocating perhaps 10 to 20% of your retirement portfolio to TIPS.
[16:58]This should not constitute the majority of your holdings. Stocks and real estate generally offer superior long-term growth.
[17:06]However, this allocation is sufficient to provide a bedrock of stability and vital inflation protection.
[17:14]Consider TIPS as your defensive line.
[17:18]Your stocks and real estate are your offensive assets, designed to grow your wealth.
[17:23]Your TIPS are your defense, safeguarding what you have diligently built.
[17:29]That concludes asset No. 4, TIPS or I-bonds, your indispensable inflation defense in retirement.
[17:37]And now, for the fifth and final asset you absolutely must acquire before retirement.
[17:44]This particular asset may surprisingly catch you off guard.
[17:49]It is a fully paid off house, or at minimum, a situation entailing very low housing costs.
[17:56]Wait, I know I stated earlier that your house isn't an investment, and indeed it isn't in the traditional sense.
[18:05]However, entering retirement with a completely paid off is one of the most astute financial decisions you can possibly make.
[18:14]Here's the compelling rationale, housing expenses typically represent your single largest monthly outlay.
[18:21]If you're confronting a $2,000 per month rent or mortgage payment in retirement, that amounts to $24,000 annually.
[18:30]Over a 20-year retirement, this totals nearly $500,000.
[18:35]Yet, if you own your home free and clear, that substantial expense plummets to merely property taxes, insurance, and routine maintenance, perhaps $6,000 to $8,000 per year, a stark contrast to $24,000.
[18:53]You have just liberated $16,000 annually from your budget.
[18:59]This dramatically reduces the amount of retirement income you actually require.
[19:04]If your initial retirement income target was $60,000 per year with a paid off house, you might realistically only need $45,000.
[19:15]That is a far more attainable financial objective.
[19:18]Moreover, maintaining minimal housing costs affords you crucial flexibility.
[19:24]Should your investments underperform in a given year, you remain financially stable because your core housing expenses are negligible.
[19:32]If you encounter unforeseen medical costs, your budget has ample breathing room to absorb them.
[19:39]Let me be unequivocally clear on this point.
[19:42]If you are nearing retirement with an outstanding mortgage, paying off that mortgage must become your paramount financial priority.
[19:50]This takes precedence over making extra payments on your car loan, indulging in an extravagant vacation, or undertaking a kitchen renovation.
[20:01]Asterisk, pay off the mortgage, asterisk.
[20:06]I recognize that purely from a mathematical perspective, investing might sometimes appear to yield greater returns than paying down a low-interest mortgage, and mathematically speaking, that can indeed be true.
[20:22]However, retirement is fundamentally about more than just numbers, it's about profound peace of mind, it's about unassailable security.
[20:33]The profound reassurance of knowing you own your home outright, free and clear, that no one can ever dispossess you of it, that you will always possess a secure place to live, that intrinsic value far transcends an extra percentage point or two of investment returns.
[20:51]Now, if you are a younger reader, here is my direct counsel, acquire less house than you can realistically afford.
[21:00]Opt for a 15-year mortgage rather than a 30-year one, attack that mortgage aggressively, making additional payments whenever financially feasible.
[21:09]Your unwavering objective should be to have your house fully paid off by the age of 60 at the absolute latest, and preferably even earlier.
[21:20]This foresight grants you a critical five to 10 years before full retirement to robustly build your other assets, unburdened by a mortgage payment consuming your valuable savings.
[21:32]If you are older and still carry a significant mortgage burden, you face a critical choice, either commit wholeheartedly to eliminating that mortgage before retirement, which might necessitate working a few extra years, or strategically plan to downsize at retirement to eradicate the debt.
[21:54]What you times cannot times do is enter retirement with a substantial mortgage payment and simply hope it works out.
[22:02]That unequivocally is financial suicide.
[22:07]It means commencing your retirement journey with one hand metaphorically tied behind your back.
[22:13]So that defines asset No. 5, a paid off house or exceptionally low housing costs.
[22:20]While it may not be an investment that directly appreciates, it is an asset that renders retirement immensely more affordable and dramatically reduces your ongoing financial obligations.
[22:32]Alright, let me concisely recap these five indispensable assets, for they truly form the bedrock of a secure retirement.
[22:42]One, a diversified portfolio of times quality times dividend-paying stocks, your primary income engine, designed to consistently grow over time.
[22:53]Two, a low-cost S&P 500 index fund that you commit to never touching, your engine for long-term growth and vital inflation protection.
[23:04]Three, income-producing real estate or REITs, a source of stable cash flow that inherently rises with inflation.
[23:12]Four, Treasury Inflation-Protected Securities, your critical defensive position against the erosive power of inflation.
[23:21]Five, a paid off house or very low housing costs, an asset that profoundly reduces your necessary retirement income.
[23:30]Now let's address the inevitable question.
[23:33]Warren, what percentage should I hold in each?
[23:41]Here's a general guideline I'd suggest for someone actively planning to retire within the next five to 10 years.
[23:48]Please remember this is a broad recommendation, not tailored financial advice for your specific circumstances.
[23:57]Allocate 50 to 60% to dividend-paying stocks.
[24:00]These are your foundational income generators, and you want them to constitute the bulk of your portfolio because they will supply the majority of your retirement income.
[24:12]Dedicate 20 to 25% to an S&P 500 index fund.
[24:17]This is your long-term growth engine, designed to be untouched for many years, perhaps decades, quietly compounding in the background.
[24:27]Assign 10 to 15% to real estate or REITs.
[24:32]This provides crucial diversification and additional income streams without overly concentrating your wealth in real estate.
[24:40]A modest 5 to 10% in TIPS, just enough to shield against severe inflation scenarios, but not so much that you significantly sacrifice growth potential.
[24:51]And finally, your paid off house, which, while outside your investment portfolio, is absolutely indispensable to your overall retirement security.
[25:03]Naturally, these percentages might require slight adjustments depending on your individual situation.
[25:10]If you possess a more conservative disposition, you might opt for a larger allocation to TIPS and less to stocks.
[25:18]Conversely, if you are more aggressive and enjoy robust health, a higher proportion of stocks and less in TIPS might be suitable.
[25:27]The fundamental takeaway, however, is the imperative of possessing times all five times asset types.
[25:35]They function synergistically, complementing one another and collectively safeguarding you from a spectrum of diverse financial risks.
[25:44]Your dividend stocks provide growing income, your index fund delivers capital growth, your real estate offers inflation-protected cash flow.
[25:55]Your TIPS ensure stability, and your paid off house keeps your essential expenses demonstrably low.
[26:03]Collectively, these five assets construct a retirement portfolio capable of weathering nearly any financial storm.
[26:10]Market crashes, your real estate and TIPS provide stability, inflation.
[26:17]Your dividend stocks and real estate inherently adjust, longevity risks.
[26:22]Your index fund continues its growth trajectory, unexpectedly high expenses.
[26:27]Your paid off house maintains manageable costs.
[26:31]This is the blueprint for a retirement founded on confidence, not merely fleeting hope.
[26:37]Confidence rooted in assets that have indisputably proven their efficacy over many decades.
[26:44]Now let me address some prevalent errors people commit concerning retirement assets, because merely understanding what to acquire isn't enough.
[26:54]It's equally crucial to recognize what to diligently avoid.
[26:59]The first common mistake is an excessive allocation to traditional bonds.
[27:03]Many individuals mistakenly equate retirement with conservative investing and subsequently shift heavily into bonds.
[27:12]However, conventional bonds neither grow nor effectively protect against inflation.
[27:18]They can, in effect, become certificates of confiscation in real terms when inflation is truly raging.
[27:27]You absolutely need to cultivate growth in your retirement portfolio, as this pivotal phase of life can easily span three decades or even longer.
[27:38]Relying solely on bonds simply won't suffice to sustain you through such an extended period.
[27:44]Instead, you'll require a strategic allocation to assets like stocks and real estate investments, inherently designed to appreciate and expand over time.
[27:57]The second common misstep is failing to establish a robust stream of income-producing assets.
[28:03]Consider the scenario where someone retires with $1 million exclusively in growth stocks that generate no dividends.
[28:11]What happens next, you're forced to liquidate shares just to cover your living expenses, effectively diminishing your core capital.
[28:20]Should a market downturn occur, you find yourself in a precarious position, rapidly depleting your wealth.
[28:28]The prudent path involves holding assets that consistently pay you through dividends, rental income, or interest, providing a steady flow of funds without ever needing to touch your principal.
[28:41]This is the cornerstone of a truly secure retirement.
[28:45]Third, and I cannot emphasize this enough, it's a grave error to retire burdened by a mortgage.
[28:53]This is, without a doubt, one of the most detrimental financial choices you can make as you enter your golden years.
[29:01]A lingering mortgage payment dramatically escalates the amount you need to save and significantly amplifies your financial risk, introducing an unnecessary layer of stress.
[29:13]The optimal strategy is to eliminate your housing debt entirely before you retire, even if it means extending your working career by a few extra years.
[29:25]Achieving a mortgage-free status will profoundly enhance the comfort and security of your retirement, offering unparalleled peace of mind.
[29:34]Fourth, many people neglect the power of diversification.
[29:39]It's tempting for some to concentrate all their wealth in stocks, while others exclusively favor real estate.
[29:46]However, intelligent diversification is your ultimate safeguard.
[29:51]Different asset classes perform optimally under varying economic conditions, acting as a crucial buffer.
[30:00]Therefore, you need a diverse array of investment types to navigate market fluctuations effectively.
[30:07]This is precisely why I've advocated for five distinct asset categories, not just one or two, but five.
[30:15]Because when held collectively, they form a far more resilient and formidable portfolio than any single asset could achieve on its own.
[30:25]The fifth, and perhaps most critical mistake is procrastinating, waiting too long to begin accumulating these vital assets.
[30:34]You cannot realistically construct a formidable retirement portfolio within a mere five years, it demands decades of diligent effort.
[30:43]A dividend portfolio, for instance, requires substantial time for its income stream to compound and grow.
[30:50]Real estate needs years to appreciate meaningfully, and for its mortgage to be paid down.
[30:56]Similarly, an index fund relies on the long-term magic of compounding.
[31:02]If you're in your 20 seconds or 30 seconds, the time to start is now.
[31:07]If you're in your 40 seconds, commence immediately.
[31:10]And if you're already in your 50 seconds and have yet to begin, you must adopt a highly aggressive strategy, and quickly.
[31:20]Your window of opportunity is rapidly closing.
[31:23]Allow me to offer a strategic roadmap tailored to your current age.
[31:28]If you're currently in your 30 seconds, your primary focus should be on diligently building an index fund while simultaneously establishing a robust dividend portfolio.
[31:39]Real estate can become a focus later.
[31:42]For now, prioritize getting your core stock assets into a growth trajectory.
[31:49]For those in their 40 seconds, it's time to strategically integrate real estate into your portfolio.
[31:57]Furthermore, begin investing in Treasury Inflation-Protected Securities, and accelerate your mortgage payments.
[32:11]If you're in your 50 seconds, this is an absolutely crucial period for aggressive action.
[32:17]You should be actively and vigorously cultivating all five recommended asset classes.
[32:23]Maximize all your available retirement contributions.
[32:27]Consider acquiring rental properties.
[32:30]Make substantial payments to reduce your mortgage principal, expand your dividend portfolio, and purchase TIPS for enhanced stability against inflation.
[32:41]Should you find yourself in your 60 seconds without having taken these steps, you are unfortunately in a challenging predicament.
[32:50]Your options are stark, either extend your working years significantly to build up these essential assets, or drastically recalibrate your expectations for retirement living.
[33:02]There is no miraculous shortcut at this stage, you have simply run out of time.
[33:08]This is the blunt, unvarnished truth.
[33:12]Meaningful retirement preparation is a multi-decade endeavor, you cannot cram it into the final few years before retirement and realistically anticipate favorable outcomes.
[33:25]Therefore, regardless of where you are in life, or what your age, commit to building these five assets today, not tomorrow, not next month, but times today.
[33:37]Asterisk, open a brokerage account and make the pivotal move to buy your very first dividend stock.
[33:43]Establish a separate investment account and acquire shares in an S&P 500 index fund.
[33:50]Dedicate time to research potential rental properties or explore investing in real estate investment trusts.
[33:58]Purchase some TIPS directly through Treasury Direct, and make an extra payment toward your mortgage principal.
[34:06]The key is to take decisive action, because these assets don't spontaneously construct themselves, and retirement, unfailingly, will not wait for you to feel ready.
[34:20]It arrives whether you are prepared or not.
[34:23]I've witnessed countless individuals reach retirement age, utterly unprepared.
[34:29]They mistakenly believe they had ample time, they assumed they'd sort it all out later.
[34:35]Many clung to the notion that social security alone would suffice.
[34:40]Now, at 65, they find themselves still in the workforce, compelled to continue because they simply cannot afford to cease, or they've retired and are enduring a struggle, meticulously scrutinizing every single penny, living under a constant cloud of financial stress.
[35:00]This is unequivocally not the way to experience your retirement years, but it absolutely does not have to be your reality.
[35:08]If you commit to building these five critical assets, if you start now and maintain unwavering consistency, you can achieve a truly comfortable retirement.
[35:19]And not just comfortable, it will be secure, confident, and liberatingly free from financial anxieties.
[35:27]That is the profound promise these five assets offer you, not necessarily a life of luxury, but one of unwavering security, profound peace of mind, and the fundamental ability to retire with dignity and comfort.
[35:42]So let me issue a direct challenge to you right now.
[35:46]As soon as you finish engaging with this message, take action.
[35:50]Select just one of these five essential assets and do something concrete about it today.
[35:55]Buy your very first dividend stock.
[35:58]Make that initial investment into an index fund.
[36:01]Begin your research into rental properties.
[36:04]Acquire some TIPS, make an additional payment on your mortgage.
[36:08]Just times do something asterisk.
[36:11]Take that crucial first step toward constructing these assets, and then keep that momentum going.
[36:18]Next week, take another step, the following month, yet another.
[36:23]Build these assets steadily, consistently, and patiently over time.
[36:29]And when you ultimately arrive at retirement age, you will possess a robust portfolio capable of supporting you comfortably for decades.
[36:39]I am 94 years old, in my lifetime I have observed hundreds of retirements, both wonderfully successful ones and tragically regrettable ones.
[36:52]The underlying difference has always been the same, the good retirements belong to individuals who diligently built the right assets.
[37:01]The difficult ones were the lot of those who failed to adequately prepare.
[37:06]Do not allow your retirement to fall into the latter category.
[37:10]Build these five assets, start now, remain consistent, and you will retire with profound confidence instead of paralyzing fear.
[37:20]That is the clear path, that is the proven way.
[37:24]Follow it, and retirement will undoubtedly become one of the most fulfilling phases of your life, rather than one of the most stressful.
[37:32]Thank you for listening. Now go forth and build those assets.
[37:38]Your future retired self is depending on you.
[37:41]Good luck.
